Those who pay attention to real estate trends have known for a while that Charlotte, NC is a market on the rise with Millennials who are chasing their dreams to the Queen City. What’s interesting to note is that now this city is becoming the target for a completely different demographic – their Baby Boomer parents. A recent study found that one quarter of this group is hoping to retire near their children and grandchildren, regardless of what that means for their current life, making them “Baby Chasers.” With Millennials representing the largest group of home buyers and Boomers representing the second largest, the fact that both groups are flocking to Charlotte says something major about the city.
For the past few years, Millennials have shown that their demographic can find a high quality home for a good price in Charlotte. While so many initially came to the city for jobs, they have chosen to stay for the unmatched quality of life. Charlotte, NC offers the convenience and exciting pace of any other city plus a healthy dose of southern comfort which is tough to find in other metropolitan areas. Millennials have moved on from their first apartment to a home purchase in and around Queen City though there are still many who do still choose to rent, keeping Charlotte among the top cities for Millennial renters.
Charlotte also continues to offer Millennials a variety of options for not just entering the job market but advancing, with banking, tech, and everything in between. Add to that the thriving nightlife and sports that have become increasingly popular, and it’s easy to see why Charlotte went from a stop on the corporate ladder to home for so many. As this group ages from young professionals to parents, they will also be able to take advantage of the amazing schools and opportunities for children in and around the city which will likely keep them in the area for the foreseeable future. North Carolina as a whole has become a top state for relocation among Millennials, and Charlotte is one of the cities that provides them the most as they grow their lives there.
Charlotte is ready to offer everything Baby Chasers are looking for – a chance to retire near their children while maintaining the quality of life to which they’ve become accustomed. Charlotte is a fairly unique prospect for both Millennials and Boomers in that they can both come to the city and find a high quality home for a much more affordable price compared to northern metropolitan areas. Oftentimes, Baby Boomers can even pay for their new home with the profits of selling their old one and still have a chunk of change left over. This gives the new buyers the flexibility to start investing in themselves, or the grandkids, now that they are ready to retire.
While both the Southeast and Southwest have been popular destinations generally, Charlotte offers a bit more than many other potential locations for Baby Boomers as well. Not only are these folks able to stay near their family, but Charlotte’s location offers proximity to the Carolina coast, mountains, city, and country, so any impulse can be fulfilled quickly and easily. While in years past retirees have chosen destinations that cater more directly to empty nesters like coastal Florida, it seems that Baby Boomers are hoping to spend more time immersed in their surroundings, not less. Retiring is now a way for this group to develop stronger connections with their communities, and Charlotte is ready for their contribution.
With Charlotte’s amazing neighborhoods like Myers Park, the West End, and the South End, it’s easy to see why buyers of any demographic would be excited to relocate. A booming city with plenty of southern charm, the Queen City is welcoming Millennials and their Baby Boomer parents happily.